For best results when printing this announcement, please click on link below:
RNS Number : 3789Q Advanced Oncotherapy PLC 28 June 2022
PRIOR TO PUBLICATION, THE INFORMATION CONTAINED WITHIN THIS ANNOUNCEMENT WAS
DEEMED BY THE COMPANY TO CONSTITUTE INSIDE INFORMATION FOR THE PURPOSES OF
REGULATION 11 OF THE MARKET ABUSE (AMENDMENT) (EU EXIT) REGULATIONS 2019/310.
WITH THE PUBLICATION OF THIS ANNOUNCEMENT, THIS INFORMATION IS NOW CONSIDERED
TO BE IN THE PUBLIC DOMAIN.
28 June 2022
ADVANCED ONCOTHERAPY PLC
("Advanced Oncotherapy" or the "Company")
Equity Subscription and Issue of Warrants
Total Voting Rights
Advanced Oncotherapy (AIM:AVO), the developer of LIGHT, the next-generation
proton therapy system for cancer treatment, announces an equity fundraise of
£6,022,500 before expenses. The fundraise has been conducted through a direct
subscription with the Company (the "Subscription") for a total of 24,090,000
new Ordinary Shares of 25 pence each (the "Subscription Shares") at a price of
25 pence per share (the "Issue Price"). The Issue Price represents a premium
of 19 per cent to the closing middle market price of an ordinary share on 27
June 2022. Subscription Shares amounting to £4.5m have been subscribed for by
Odey Asset Management LLP acting on behalf of certain of its funds.
Once issued, the Subscription Shares will rank pari passu in all respects with
the existing Ordinary Shares of the Company. The Subscription Shares are being
issued under the Company's existing share authorities.
The net proceeds of the Subscription will be used for general corporate
purposes as the Company progresses towards having a fully operational LIGHT
system operating at 230 MeV.
Under the terms of the Subscription, warrants to subscribe for 24,090,000 new
Ordinary Shares will also be issued within three months of First Admission
(the "Warrant Issue Date") (subject to the Company being granted the relevant
share authorities at its 2022 annual general meeting) to subscribers of the
Subscription Shares with an exercise price of 25 pence per share, exercisable
for four years from First Admission. In the event that the number of
Subscription Shares held by a subscriber on the Warrant Issue Date has
decreased compared to the number of Subscription Shares issued to them, the
number of warrants to be issued to the subscriber will be adjusted
Application has been made for 21,540,000 of the Subscription Shares to be
admitted to trading on AIM and it is expected that admission will occur on or
around 1 July 2022 ("First Admission"). Application has been made for the
remaining 2,550,000 Subscription Shares to be admitted to trading on AIM and
it is expected that admission will occur on or around 10 August 2022 ("Second
Total Voting Rights
Upon First Admission, the Company's enlarged issued share capital will
comprise 494,892,211 ordinary shares of 25 pence each ("Ordinary Shares").
Upon Second Admission, the Company's enlarged issued share capital will
comprise 497,442,211 Ordinary Shares. The Company does not hold any Ordinary
Shares in treasury. Therefore, the aforementioned figures may be used by
shareholders as the denominator for the calculations by which they will
determine if they are required to notify their interest in, or a change to
their interest in, the share capital of the Company under the FCA's Disclosure
Guidance and Transparency Rules.
- ENDS -
Advanced Oncotherapy plc www.avoplc.com (http://www.avoplc.com)
Dr. Michael Sinclair, Executive Chairman Tel: +44 (0) 20 3617 8728
Nicolas Serandour, CEO
Allenby Capital Limited (Nomad and Joint Broker)
Nick Athanas / Liz Kirchner (Corporate Finance) Tel: +44 (0) 20 3328 5656
Amrit Nahal / Matt Butlin (Sales and Corporate Broking)
SI Capital Ltd (Joint Broker)
Nick Emerson Tel: +44 (0) 1483 413 500
Jon Levinson Tel: +44 (0) 20 3871 4066
FTI Consulting (Financial PR & IR) firstname.lastname@example.org
Simon Conway / Rob Winder Tel: +44 (0) 20 3727 1000
About Advanced Oncotherapy Plc
Advanced Oncotherapy, a UK headquartered company with offices in London,
Geneva, The Netherlands and in the USA, is a provider of particle therapy with
protons that harnesses the best in modern technology. Advanced Oncotherapy's
team "ADAM," based in Geneva, focuses on the development of a proprietary
proton accelerator called, Linac Image Guided Hadron Technology (LIGHT).
LIGHT's compact configuration delivers proton beams in a way that facilitates
greater precision and electronic control.
Advanced Oncotherapy will offer healthcare providers affordable systems that
will enable them to treat cancer with innovative technology as well as
expected lower treatment-related side effects.
Advanced Oncotherapy continually monitors the market for any emerging
improvements in delivering proton therapy and actively seeks working
relationships with providers of these innovative technologies. Through these
relationships, the Company will remain the prime provider of an innovative and
cost-effective system for particle therapy with protons.
This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
. END MSCUBVARUAUNUUR